Tax Tip/Businesses: You Can Pay Your Taxes Online Through Your Bank or Directly on the CRA Website

OTTAWA, ONTARIO--(Marketwired - June 28, 2016) - Did you know?

In the event of a Canada Post postal disruption, you can use online payments to pay your business taxes! It's faster, easier, and cheaper than mailing a cheque to the Canada Revenue Agency (CRA), especially if you're making more than one payment a year. Even if a postal disruption occurs, you are still required to make every effort to submit your payment on time to the CRA. The following online services can help you meet your tax obligations on time to avoid late penalties and charges.

How to pay using the CRA website and My Payment

My Payment is an electronic payment service that lets businesses make payments directly to the CRA using their bank access cards. You don't need to register to use My Payment, and you can make payments to more than one CRA account in a single transaction.

When you use My Business Account to set up a pre-authorized debit (PAD), you agree to authorize the CRA to withdraw a pre-determined amount from your bank account to pay tax on a specific date or dates. To set up a PAD agreement: